Why culture change is the key to weeding out bad apples June 1, 2016 I read a magazine article recently which stated 55 per cent of respondents to a survey on the UK Senior Managers Regime (SMR) think it won’t be effective. I find that statistic surprising. To me, SMR is really about holding up principles of good corporate governance. Good corporate governance – transparency, respect, responsibility, controls – is paramount [...]
Why holding the doors open for struggling businesses can also be best for creditors June 1, 2016 The UK insolvency regime plays a crucial role in our economy, and is one of the most effective in the world. It gives lenders and businesses the confidence to lend and trade, safe in the knowledge that, should things go wrong, debts will be settled in a fair and speedy manner. According to the World [...]
Defined benefit pension scheme deficits break £300bn mark, as uncertainty surrounding a potential Brexit grows June 1, 2016 The level of funding across defined benefit (DB) schemes has worsened over the last year, figures out today show. According to the analysis by JLT Employee Benefits, the total deficit across all private sector DB schemes has increased to £310bn at end of last month, up from £255bn the same time the year before. "Pension [...]
City watchdog dishes out £2.4m fine to CT Capital for historic failures to handle its PPI complaints process June 1, 2016 CT Capital has today been slapped with a £2.4m fine by the City watchdog for historic failings in its Payment Protection Insurance (PPI) complaint handling procedures. The Financial Conduct Authority (FCA) issued the £2,360,900 fine in relation to the mishandling of PPI complaints between May 2011 and November 2013, which resulted in customers missing out on redress repayments they were [...]
Key advisers on the £1 sale of BHS are being asked to reveal their fees June 1, 2016 The two key advisers on the BHS sale to Retail Acquisitions have today been asked to reveal their fees. The Work and Pensions select committee, which is overseeing one of the two inquiries currently examining the BHS fiasco, has written to representatives from accountancy firm Grant Thornton and law firm Olswang for more details on how [...]
How one set of bean counters is addressing chief executives’ big fears June 1, 2016 After half of chief executives let slip to them in a recent survey that they were concerned about their readiness to respond to a crisis, PwC has come up with a solution. The professional services giant has today launched a new global crisis centre, which will pool together the most experienced talent the firm has for [...]
Here’s what flexible working has done to businesses’ bottom lines June 1, 2016 If the Monty Python crew had made a film about the modern-day office, they might ask what flexible working has ever done for us – apart from bucking up employer brand, bolstering productivity and boosting businesses' bottom lines, that is. A survey released today by Vodafone discovered that three-quarters of companies around the world have [...]
BHS: The six answers we have so far from the parliamentary inquiries May 30, 2016 Last week, Frank Field, chair of the Work and Pensions committee, said that the two inquiries launched to unmuddy the waters surrounding BHS’ collapse into administration in April had so far left them with more questions than answers. With both Retail Acquisitions’ largest shareholder Dominic Chappell and Arcadia bigwig Sir Philip Green preparing to tell [...]
MPs warn that criminal justice system is “close to breaking point” May 27, 2016 MPs are today warning that the country's criminal justice system is "close to breaking point", with many witnesses disheartened and victims facing a "postcode lottery". In its most recent report, the Public Accounts Committee (PAC) slams the Ministry of Justice for being too slow to recognise that the system is under serious strain and that those seeking justice [...]
